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Privatisation of Mauritius Telecom
In November 2000, the Government of Mauritius completed the sale of 40% stake in its national telecoms operator, Mauritius Telecom, via a two stage competitive tender process. The stake was sold to a strategic investor, France Telecom, for USD 261 million. CIBC was the financial adviser to the Government of Mauritius and DCDM provided the local support on all aspects of the privatisation, including accounting and tax. Senior members of our team assisted in the preparation and execution of the transaction as well as relations with the Government and the company.

The successful sale of 40% of Mauritius Telecom was the first privatisation undertaken in Mauritius and was a historic transaction, which realised proceeds far greater than anyone had predicted. Significant work was required to prepare the company for sale, including developing an appropriate regulatory framework. Strong working relationships were maintained with the Government and the company throughout the process.

Responsibilities included:

* Marketing the company, including canvassing potential interested investors and reviewing various financing alternatives
* Advising on a detailed and comprehensive strategy for the privatisation of MT, taking into account the broad intentions and policies of the Government of Mauritius
* Formulating a plan for the implementation of the strategy within a set timeframe
* Reviewing the current structure of MT and advising on how to optimise the value of MT prior to its privatisation
* Carrying out significant due diligence and preparatory work in respect of MT
* Undertaking a complete valuation of the shares to be sold
* Preparing all amendments to be brought to the legal, regulatory and administrative regime
* Providing all assistance needed for divestment and finalisation of the sale of shares to the strategic investor including drafting of transaction documents and evaluation of final bids
Due diligence of Air Chad
DCDM carried out a due diligence at Air Chad. This exercise was key to determine whether our client, a national airline company, would proceed with this cross border acquisition of this airline. The main objectives of this venture were to perform a comprehensive assessment of the assets to be acquired, define the legal framework and above all devise a corporate plan for a long term successful positioning of the company. The bid documents were also prepared for Air Chad in collaboration with the Central Privatisation Committee.
Due diligence review at a malagasy petroleum company
DCDM was appointed to lead a consortium led by an international leading petroleum company and the largest indian ocean based provider of technical, managerial, and industrial assistance in the petroleum sector. Our experts were responsible for the following :

A full financial, legal and technical due diligence review
A comprehensive review of business risks facing the company
Preparation of a business and strategic plan
Valuation of the company
Preparation of an offer document
Advisory assistance on structuring the acquisition and shareholding structure
Preparation and advice on privatisation and negotiating strategy
Provision of advice and support in the negotiation process.

There was a full fledged diligence review performed at this malagasy petroleum company and the company was then privatised and sold to an international leading petroleum company. DCDM was involved on the legal front with the hiring of lawyers and corporate finance experts to close the transaction.
Due diligence in view of future privatisation of a national malagasy telecommunications company
DCDM was appointed by the Secretariat Technique du Comite de Privatisation of Madagascar to carry out a full diligence review of the telecommunications company. They carried out a financial audit of the company, a review of the accounting policies, and a financial performance review, as well as a review of the forecast financial information prepared by the management of the company.
We also undertook a comprehensive review of the business risks facing the company which would potentially affect the success of the privatisation process.
 






 
 
 

 
 
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